Down Payment Tips

How to Avoid PMI Without 20 Down – Calgary Real Estate Tips

When purchasing a home in Calgary, many buyers face the challenge of managing upfront costs. Private mortgage insurance (PMI) often comes into play for those financing more than 80% of a property’s value. This coverage protects lenders if borrowers default but adds an extra layer of expense to monthly payments. Lenders typically require PMI when the loan-to-value (LTV) ratio exceeds 80%. For example, a...

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